Tajik workers in Russia reduce remittances
By Vusala Abbasova
The volume of the remittances from Russia to Tajikistan dropped by 87 percent during the first quarter of this year.
For the first three months of the year, $364 million has been remitted from Russia to Tajikistan on individual basis, according to the Russia Central Bank.
The volume of transfers decreased by $284 million or as compared with the same period of previous year, when the remittances from Russia to Tajikistan amounted to $648 million.
The economic slowdown in Russia, the fall in the oil prices, as well as the Western political and economic sanctions significantly affected the volume of the migrant workers remittances, who are the basics of the Russia labor market.
Drop in remittances made up 8.3 percent (or up to $3.9 billion) as compared 2013 and 2014.
There were slightly fewer than 1 million Tajik citizens in Russia in an early June, 200,000 fewer than half a year earlier, according to data from Russia's Federal Migration Service.
Thousands of migrant workers have left Russia after the economy crisis, which slashes the value of their earnings and makes increasingly hard to come by jobs.
Russia holds the second position in the ranking of the world's biggest migrant population after the U.S., according to a 2013 United Nations report.
The 2014 data from the International Fund for Agricultural Development are stunning in two respects. First, Russia ranks highest, with $20.7 billion in remittances, even though its per capita gross domestic product is less than those of other nations. The U.K., which recorded $17.1 billion in remittances, has per capita GDP that is almost 50 percent higher.
Russia needs human resources to do the mostly menial jobs and is interested in the large amount of immigrants, what causes to high remittances from Russia.
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